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12

Commercial Property Register

June - September 2018

www.compropregister.com

NEWS

Albert

DOCKS

What is impressive about the regeneration of the docks area of

Liverpool is the steady stream of new occupiers that are moving in as

well as the steady flow of investment.

This is encapsulated by Aberdeen Standard Investments agreeing five

new leases at the iconic Albert Dock as part of its vision for the complex,

including a diverse mix of independent and national leisure, retail,

restaurant and office tenants.

The policy is to reposition the commercial aspect of the dock by bringing

in new occupiers. Aberdeen also said there is a “re-engagement with the

city and wider region with an eclectic offering of retail, restaurants and

leisure under pinning the long-term vision”.

Aberdeen is also set to embark on a refurbishment programme of the

vacant office space and mezzanine level of the dock in order to attract a

diverse range of occupiers, including start-ups seeking more flexible terms.

Chris Wright of Aberdeen said: “Albert Dock is a world-class tourist

attraction bringing a significant amount of footfall to our tenants but we

are striving to create a year-round destination within the city that locals

visit regularly and feel compelled to return to. We are starting to see strong

demand emerge from exciting, progressive and emerging operators, either

expanding within the North West or from further afield”.

There has been a whole host of new leases signed at Liverpool Waters,

such as the luxury vehicle insurance broker, Novo, which has been based at

Princes Dock for some years.

More significantly the chartered financial planners, Willson Grange,

has relocated to Liverpool Waters from Hoylake and leased 975 sq metres

(10,500 sq ft) at 12 Princes Dock.

Liza Marco of Liverpool Waters said: “Businesses are seeing the

advantage of being located in the city centre and the benefits it brings

in terms of welcoming new clients and employees. As we enter our next

phase of development, we’re looking forward to many more organisations

joining us at Liverpool’s water front”.

Another recent new arrival at Princes Dock is the quantity surveying and

project management business, Walker Sime.

Intense lobbying by regional cities to attract Channel 4 in its relocation

out of London is underpinned by the boost given to Greater

Manchester when the BBC opened in Salford.

The Investor Square organisation expects a significant boost to the

property market if Manchester is chosen, particularly the buy-to-let market.

Ross Kelly, funder of Investor Square, commented: “Manchester is one of

the hot favourites to become host to C4’s newHQwhichwill see at least 300 of

the station’s staff and their families relocating to the chosen city. Manchester

is already experiencing a 7.53% rental price growth as the city booms in

confidence. Channel 4 is going to be extremely tempted by the pool of

talent and facilities already available in Media City”.

Elsewhere, in Cheshire, the hotel business continues to thrive and there is a

special place for large country house premises, such as Rowton Hall & Spa

which has been sold through Christie & Co for £6.25 million.

The 40-bedroom hotel is situated in the core wealthy part of Cheshire

Location

LOCATION LOCATION

close to the Roman city of Chester and has function and conference facilities

which accommodate a large number of weddings each year.

It has been bought by Anderbury, who own other hotels in the region.

Rowton Hall offers the opportunity to increase the number of bedrooms in

the complex.

Ryan Lynn of Christie said: “We have achieved a strong result for the

Wigginton family in the sale of the hotel on a very confidential basis”.